Samsung, Wistron, Foxconn are most likely to apply for the PLI (Production Linked Incentive) scheme, a worth Rs. 41,000 crores. India is encouraging smartphone companies to move their plants to India.
The details about the PLI scheme was announced by IT and Telecom Minister Ravi Shankar Prasad in a press meet. As per his report, the Indian government is planning the five top smartphone manufacturing companies to make use of the PLI scheme and set up their plants in India. This plan would also benefit the domestic manufacturing companies in India.
Although the IT minister did not reveal the five smartphone manufacturers’ details, few experts said those five are Samsung, Apple, Vivo, Xiaomi, Oppo along with Wixconn, Foxconn and Flex showing interest.
Foxconn, Wistron, Flex and Indian Cellular and Electronics Association (ICEA) representing Oppo, Vivo, Xiaomi, Lava, and Apple have stated this is a game-changes moment in the industry. Wistron, a Manufacturing company of Apple iPhones in the outskirts of Bangalore, and its CEO, stated that the company is looking forward to this upcoming scheme.
The minister of IT and telecom industry has added that India has been the second-largest manufacturer of smartphones from the past six years. With the help of PLI scheme, he has announced to the companies to make India, a top producer of Phones in the world. The PLI scheme announcement is expected to generate employment of 15 to 20 Lakhs in the electronics manufacturing sector. The reason is PLI scheme encourages Manufacturing of Electronic Components and Semiconductors (SPECS) and the Modified Electronics Manufacturing Clusters (EMC) 2.0.
This also marks the motto of Make in India, where smartphones get manufactured in India alone. The prevailing global situations favouring India, and with the help of such schemes, would accelerate the shifting of plants to India. We have to wait and see when the plants would shifting, and production would start.